Comments from the CEO
We are in the midst of the spring auctions, the Modern Sale just ended and the Contemporary Sale soon begins. It would perhaps be more handy to sum up the spring in June, after the Classic Sale, but instead I want to give you a snapshot and short summary of Bukowskis from where we stand today, in May 2012.
We are in the midst of the spring auctions, the Modern Sale just ended and the Contemporary Sale soon begins. It would perhaps be more handy to sum up the spring in June, after the Classic Sale, but instead I want to give you a snapshot and short summary of Bukowskis from where we stand today, in May 2012.
I hope that many of you came to our exhibition “Strindberg at Bukowskis”, which had more than 6,000 visitors in four days and closed a few days ago. This event in Stockholm will go down in history, as the Strindberg anniversary year when an auctioneer presented the only exhibition of art by the famous writer.
The auctioneering sector is currently in an exciting and expansive period internationally, and this is definitely noticeable at Bukowskis, which has enhanced its position as the largest Nordic art dealer. What do I mean by the largest? Here are a few examples:
- In 2011, we had 71 hammer prices in excess of one million SEK. No other art auctioneers in our segment came close, and in the autumn we achieved the highest hammer price in Sweden ever for a photograph: Dovima with Elephants by Richard Avedon was sold for an amazing SEK 3.062 million.
- Bukowskis is by far the largest in the fields of Classic, Modern and Contemporary and Photography, be it art, crafts or design. The difference is the greatest when it comes to more exclusive objects. Ten out of the ten most expensive photos, nine out of the ten most expensive contemporary works, eight out of the ten most expensive modern works, and an Oriental department with hammer prices totalling SEK 35.5 million last year, which is many times higher than any other player in the field - this is an impressive track record even in an international comparison. We are way ahead when it comes to modern Swedish painting, where our turnover was SEK 60 million, or twice that of our closest competitor.
- At the time of writing, our only 2012 results are from the Modern Sale. But it is worth noting that we had 16 hammer prices in excess of one million SEK, and total sales of SEK 84 million. (hammer prices + tax). This is our largest Modern Sale ever, and twice the size of our closest competitors in the auction business.
- The Spring Modern + Contemporary Sale, Helsinki was the largest of its kind ever.
Bukowskis reported a respectable turnover on auctions for the group of SEK 589 million in 2011 and total sales of SEK 173 million. The operating result before depreciation and financial costs was SEK 7 million for the parent company, and SEK 5 million for the group, a substantial improvement. Our online sales section, Bukowskis Market (now with a fifth showroom and office, in Norrköping), has continued its fantastic growth by around 60 per cent and reported SK 170 million in sales. Fine Art sales are twice as high as those of our closest competitor in Sweden. If we look at, say, Swedish modern painting last year, Bukowskis was exactly twice as big as its closest competitor, with sales of SEK 60 million, as compared to SEK 30 million.
But our greatest superiority lies in dealing with our invaluable cultural heritage. Without our experts, we would never have achieved all this. Knowledge is the key.
Therefore, we are inviting the public to learn about artists and designers. Visit our bukipedia to learn more: Bukipedia
In conclusion, we are in a dynamic phase in May 2012. And we still have the rest of the season ahead of us!
We look forward to seeing you!
Michael Storåkers, CEO